May canola is up $.60/mt, May soybean oil is up .97 cents/pound, May European rapeseed is up 1.75 euro per mt and June Malaysian palm oil is up .31%. May oats are up 8 1/2 cents/bushel. May crude oil is up $4.27 per barrel, May ULSD is up $.2638 per gallon, and the June Canadian dollar is down .00225 at .72430. The June U.S. Dollar Index is up .236 at 99.635 and the April Brazilian real is down .00050 at 0.19095.

With little positive news to go on regarding a potential end to the war with Iran or the opening of the Strait of Hormuz -- and an escalation looking increasingly likely -- commodities remain strong for the most part, led by energy market gains.

A leader of the Houthis confirmed Thursday morning that they are prepared to enter the conflict in support of Iran, suggesting a potential blockade of all traffic that goes through the Suez Canal, including another substantial portion of global energy trade. When combined with additional threats against Iran by Trump if the Strait of Hormuz is not opened immediately, you get energy markets remaining near their highs of the session.

That has supported continued gains for most grain and oilseed markets with corn holding back slightly. Soybean oil is again the leader of the complex with soybeans extending Wednesday's rally as well.

Outside markets remain relatively consistent with overnight moves as stocks and bonds trade lower and the U.S. dollar holds onto gains on the resulting higher interest rates and a flight-to-safety bid.

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